"Economists have become a plague as dangerous as rabbits, prickly
pear or cane toads. Economists have become the cultural cane toads of
Canberra, oozing over the landscape and endangering myriad indigenous
species. Not only the economy but also mental health would be greatly
improved if we could lift the fog of obfuscation on things economic. The
first step is to take economists from their pedestal and to see them as
the curiosities they are. The first step to reducing their power is to
reduce their legitimacy. How is this to be achieved? First, economists'
outpourings should, as a matter of principle, be met with laughter,
derision, benign paternalism. They should cease to be employed as media
commentators. In the long term they should cease to be hired. Let them be
pensioned off and die out. Extinction is a worthy end for a profession
whose brief is rotten to the core."
-- Dr. Evan Jones, Economics Department, University of Sydney

The study of Economics has crafted a perverted understanding of the
American Economic System. It obfuscates reality by building a hierarchy of
minutia and interactions that is separate and doesn't relate to any of the
other sciences.

The members of the American economics profession perform a vital
practical role in maintaining our unique system of corporate socialism.
They prevent the American public from achieving a correct understanding of
the actual workings of the American economic system. Economists dispense a
constant tirade of information that allows this farcical business to
operate independent of damaging political fallout. The concept is based on
a society composed of competing individuals without regard to the real
laws of supply, demand and distribution.

This false premise was transferred to the
industrial organizations and countries and governments.

As long as the economic system in the United States is not
Really well understood the people will not change it.
We are educated to believe that the system we have is the only workable system. We are
taught that economics is a complex system of money supply, interest rates,
productivity rates, employment rates, trade deficits, fractional reserve
lending and inflation and deflation. We are taught that if it isn't regulated and
controlled then the systems goes haywire and collapses.

The Monetary system of America is actually controlled by a private bank,
The Federal Reserve Bank. The majority of its stock is
owned by banks that are owned and controlled by a consortium of multinational
bankers. These banks and The FED manipulate money supplies and the cost of money as
well as its availability. This manipulation in this and other forms, controls the
destiny of the entire financial system of the United States and the entire World.

The current system is based on debt. All funds in the system start out as
borrowed funds with interest attached.

On January 24, 1939, Robert H. Hemphill, credit Manager of the Federal Reserve Bank of
Atlanta stated:

" If all the bank loans were paid, no one would have a bank deposit and
there would not be one dollar of coin or currency in circulation. ......
Someone has to borrow every dollar we have in circulation, cash or credit. If the
banks create ample synthetic money we are prosperous: if not, we starve. We are absolutely
without a permanent money system. When one gets a complete grasp of the picture the tragic
absurdity of our hopeless position is almost incredible, but there it is. It is the most
important subject intelligent persons can investigate and reflect upon. It is so important
that our present civilization may collapse unless it becomes widely understood and the
defects remedied very soon."

He worked for the system! All the money in circulation starts as a loan
with interest. This is a loan to our government or a loan to a member bank who in turn
loaned the money to an individual business or person. The main glaring problem with
the system is that the loans draw interest and the interest isn't funded. The loan
therefore cannot be repaid. It is mathematically impossible for the loan to be
re-paid. Let me give a mini example.

In year one the US pays 10 billion in interest. That leaves only 90 billion.
Already the loan cannot be paid back ...... ever. Its impossible to pay back 100
billion with 90 billion bucks. After year 10 is over there is no cash left yet the 100
billion is still owed. Then it becomes necessary to borrow additional money just to
maintain the interest payments. There is only one way for this system's balance sheet to
go. The debt will increase. There was not enough money to pay back the debt after one days
interest let alone many years down the road. It is impossible to pay back the debt,
so it grows and draws interest forever!

The old saying goes "You can tell what kind of tree it is by the fruit it
produces"

The current system ends up eventually transferring all the assets of the borrowers to
the lenders. The process takes a few years but the transfer takes place, eventually all
the assets are transferred.

How did this come about?

When you sit down and plan something you first have to have an idea of the final
result. The final perfect result could be called the ideal scene. If you are planning a
house you start out with an idea of how many rooms and what size you want and as the plan
develops you get a full set of drawings showing how the whole house will be built.

The current monetary system is an extension of the Bank of England and was
planned in 1910. There was a secret gathering of 7 men at
a place called Jekyll Island, Georgia hosted by Nelson Aldrich.

These gentlemen spent nine days planning the Federal Reserve Banking System and the
Internal Revenue Service. They knew exactly what they were doing and knew what the
ultimate result or fruit of the system would be.

The main purposes of the system are;

1. Eliminate competition between banks and increase profits for the Banksters.

2. Establish an exclusive cartel that could create money out of nothing for the purpose
of lending at interest, to eliminate the formation of private capitol, and
the system can
bail out troubled banks whenever this suits the Banksters.

3. Get control of the reserves of all banks and pool them, create additional profits by
managing the reserve requirements and charging interest on loans of printed paper or
electronic credits, more money for the Banksters.

4. Force the taxpayers to pay for the losses and interest on the government borrowed
funds through the IRS and have them deposited directly into the Banksters Federal Reserve
Bank. (This was recently changed in the 1990,s and now the funds go to the
Treasury to help hide the truth) Create a hidden tax by inflating the money supply resulting in more profits for the Banksters.
This isn't done by printing money, it is done by lowering the discount rate
and flooding the economy with loans.

5. Disguise this private money cartel as a quasi government agency by naming it Federal
Reserve Bank and convince congress that the purpose of this exclusive cartel was to protect the
public and not to hide the Banksters.

6. Have exclusive knowledge of what will happen to the interest rates and money supply
ahead of time. How would you like to know what the rates were going to do a few days
ahead of schedule? You could get rich beyond your wildest dreams, and the Banksters have.

The plan followed a devious plot from the start. The name itself makes it sound like a
federal agency. The word bank was eliminated to disguise the central bank nature. It
was split up into twelve regional banks to further convince that it wasn't a cartel or
single bank. It was set up with a very conservative nature that has been changed little by
little in un-noticed fashion. University professors have been used from the start to
give it the appearance of academic approval.

The bank also demanded good money to pay the interest. They didn't want
any of their own debt money as payment until all the real money had been
removed from the system.

I had dinner once with a recently graduated Harvard economics student and I was amazed at how this
intelligent young man was totally brainwashed by academia into believing the FED was the
salvation of the world. He was sobered by the fact that all money is loaned
into the system at interest. Somehow this crucial fact was not part of his
education.

Take a fresh look at what is really happening and you too will be shocked
with what is
going on.

Milestones for the Cartel

The name itself is designed to deceive the populace and even a lot of savvy bankers
into thinking it is a government agency. The act, conceived in 1910, was
not passed right away. President William Howard Taft made it clear he would veto any
attempt as long as he held office. The cartel tried to get Republican Teddy
Roosevelt elected but he lost in the primaries. Then they backed the democrat Woodrow
Wilson in exchange for his support. They ran Teddy as a third (Bull Moose) candidate to
draw votes away from Taft and Wilson became president. Sounds a lot like the Ross Perot
deal doesn't it?

The Federal Reserve Bill was held until two days before Christmas. It
passed on December 23rd 1913 when all opposition had gone home for Christmas. This
effectively placed control of the nations money into the hands of this private
corporation.

In 1920, the 66th Congress passed the Independent Treasury Act.

In 1921 the United States abolished the U. S. Treasury. This allowed the monies of the
allowed the Federal Reserve to manage all the money as a single unit.

The operation of the Federal Reserve System during the years 1913 to 1933 under
authority of our Congress used the nations Gold to back their currency and at the same
time charge the nation interest on loans that it had made. This is like charging interest
on our own gold. The gold was taken to pay the interest, in fact most of our gold was
shipped out of the country.

Roosevelt was inaugurated on Saturday, March 4, 1933. Shortly after
midnight the morning of Monday, March 6th, he issued two emergency
executive orders. One declared the bank holiday; the other called the
special session of Congress on Thursday, March 9th. At the special
session, Congress was held hostage & forced to vote on the banking relief
act that divorced the Federal Reserve "bank" note from gold backing and
pretty well forced state banks into the Federal Reserve system. The
proposed bill was drafted by banksters at the New York & Chicago Federal
Reserve Banks and the only copies in the House or Senate were in the hands
of secretaries -- printed copies weren't distributed for consideration
prior to or at the special session. It was rammed through both houses on
up or down votes, without the option of amendment, prior to midnight on
March 9th.

On March 9, 1933 the United States was forced to declare bankruptcy. This was done by
President Franklin Delano Roosevelt in Executive orders 6073, 6102, 6111, and 6260.
These executive orders are some of the worst examples of Un-constitutional law that has
been perpetrated on the American people.
FDR declared a national
emergency and made it unlawful for citizens to own gold. The
Congressional Record for March 9, 1933 should be mandatory reading. Citizens were ordered
to turn their gold in by Executive Order 6260. They were informed that their safety
deposit boxes would only be opened in the presence of an agent of the INTERNAL REVENUE
SERVICE. My grandparents remember turning in their gold. They did it in a
confused patriotic state, to save the United States, from what, ..... they weren't sure.
They received less than the spot market price and were paid by crisp new freshly printed
Federal Reserve Bank Notes. American Gold traded to multinational Banksters for
their paper notes. In the next hundred days, the New Deal forces
socialized national government, and over the ensuing year, state governors &
legislatures accommodated the scheme. This is an American travesty.
The constitutional coup de grace came on the heels of four years of hard
depression that was orchestrated by the control the Federal Reserve had
attained over the money supply. From 1929 to 1933, approximately 40% of
American's industrial capacity was shut down and non-farm unemployment
topped 25%. In the months prior to the Roosevelt inauguration, panic
intensified due to bank runs set off by speculators exporting massive
quantities of gold.

Lewis T. McFadden
a State Representative documented in his speech before the House, June 10th
1933, transfers to Germany of more than thirteen million dollars of our gold in a
four week period. Find a copy of his speech here.
He requested investigations of criminal conspiracy to establish the privately owned
Federal Reserve System. He asked congress to investigate a vast scope of criminal acts
including the conspiracy to remove our gold and transfer it into the control of the owners
of the Federal Reserve Banks. During 1933 all the balance of the gold had been
transferred out of our treasury.

The United Sates Government has since that time been owned and controlled by the
Federal Reserve Bank owners and the interests they serve.

After all the Gold was turned in, and all of it transferred into foreign hands the
design of Federal Reserve Notes were changed slightly. While the minor design change
went unnoticed there was a very significant change in their value basis. The FED notes
originally said they were redeemable in lawful money at the United States Treasury. This
acknowledged that their notes were not lawful money. After the change they became
non redeemable. In 1933 these FED notes were declared legal tender. On June 5, 1933
Congress passed HJR-192. It suspended the gold standard and abrogated the gold
clause in the national constitution.

In 1963 Kennedy was assassinated and his EO 11110 which would
have converted our financial system into a healthy wealth based system was stopped.

In 1965, under President Johnson, Congress terminated the coinage of constitutional
silver dollars and authorized the first debased coinage, cheap metal washed in nickel.

In 1978 under president Carter, Congress took America off the Gold Standard.

The Monetary Control Act of 1980 gave the Federal Reserve System control over all
depository institutions, even non member banks. It effectively allows the FED to use
Foreign Debt as collateral for additional FED notes issues, saddling the taxpayer with
Foreign Debts.

This private bank has created unimaginable wealth for the stockholders. It has effected
a transfer of most of the wealth of this nation over to them, lock stock and barrel. It
controls the nations economy and manipulates it for its own agenda.

Debt Based Monetary System & Money Supply

The money in circulation is a key issue because it is the basis of the speed of the
economy. In the debt based system it is possible to alter the natural supply of
money. In the debt based system if no new money is loaned into the system then the cash
supply dries up. It is a simple mathematic certainty. The money is loaned into the system
, but the interest is never funded, so as the interest is paid from the funds that
were loaned the amount of cash in the system is reduced, even if the debt is never repaid.
All funds end up in accounts receivables and companies and people cannot buy
because they have not been paid. This debt based system is unnatural and will fail, it is
just a question of when there are no more borrowers or when the controllers of the system want it to fail. A quick review of
the history of the system will show that every time that the
borrowed money or debts are reduced the entire system
goes into depression. See Debt
Reduction causes Depressions.

This fraudulent ridiculous system is maintained because the learning institutions have been
funded and controlled. They promote this debt based system as the only way for economics to function. Once this concept
is established the worlds attention is on the regulation and fine tuning of the
system instead of the fraud and deceit of the operations. The institutions
turn out the managers of the system. Those that see through it or question
it never get promoted and it continues.

Wealth Based or Value System and the Money Supply

In a wealth based system all money is asset based. That is, based on
actual commodities and the time value of humans.

The role of the government central bank is to manage the cash, that is, keep enough
cash in the system for commerce to flow as necessary. Individuals could use their assets
as collateral to fund expansion. There is no reduction of the cash supply by an outside
force bleeding off interest. There is no manipulation of the interest rate with only a select few knowing where
the rates will go ahead of time. Rates would be fixed and eventually would be very low as
the economy grew and prospered.

As commodities and human time availability increase so does the money
supply. If the economy is good then cash
increases as the economy increases. If the economy slows then the
expansion naturally slows as the use of human time deceases.
When our Government sponsored loans and programs funds and human time are
made available to the system without the problematic interest associated
with our current system. These increase the flow of goods and services
without creating inflation.

The Changing Definition of Inflation

There has been a progressive change in the definition of terms to obfuscate the real
problem

Webster's 1957 New 20th Century Unabridged Dictionary of English Language;
Inflation: an
increase in the amount of currency in circulation, resulting in a relatively sharp and
sudden fall in its value and a rise in prices.

Webster's New Collegiate Dictionary1979. Inflation: an increase in the volume of
money and credit relative to available goods resulting in a substantial and continuing
rise in general price level.

This subtle change in definitions shows how completely the persons inflating control
things. They have conned the public into thinking inflation is part of the economy, caused
by the market. It is not a natural process. It is caused by the current expanding and
confiscatory monetary system.

Currency Value

Currency should be stable and its value should not change. It is essentially a promise
to pay a certain value. The promise should remain good. The fact that the Federal
Reserve Note is losing value is another proof that the Fed is not fulfilling their
promise. If you traded a days work in 1933 for $3.00 then the $3.00 today should buy a
days work. If it doesn't it is because the promise has been broken. If I trade an IOU for
a piece of property for a years worth of work. Then the IOU should be good for that
property in ten years. If however I give the same IOU to ten other people and all ten come
for the property then the property needs to be divided into ten pieces so the IOU is only
worth one tenth. This is exactly what has happened to the Fed notes. The issuers have
stolen the value of the property by issuing too many IOU's.

This is really an orchestrated, hidden tax. Our economists are so proud of the current
3% to 5% inflation rate. How nice that is. Lets look at what it really is. It is a massive
tax that is hidden. It relentlessly erodes away cash assets, and it is operating on all
your funds, those you earn today and those you earned in the past.

If we take a 5% inflation rate and apply it cumulatively to assets over a 45 year
working period the hidden tax will be 90% on those original funds. Add to that the income
and other taxes and you begin to get the idea of what is happening.